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Multiwave Photonics, a company based in Maia, Portugal, has closed its Series B financing round of €5 million (US $8M).
The round was led by new investor FCR Espírito Santo Ventures II, a venture capital fund managed by ES Ventures (BES Group), and was also participated by new investor GP Sidecar, the venture capital fund associated with GP Bullhound, as well as by the current institutional venture capital investor Bullnet Capital, that reinforced its investment to date in the Company.
Proceeds from the round will support Multiwave’s aggressive growth strategy and global market expansion plans to allow the Company to become the world’s leading provider of next generation pulsed fibre lasers (MOPA) and specialty optical sources based in fiber-optic technologies, for industrial, environmental and medical applications. The next generation fiber lasers offered by Multiwave allow customers to control its key operating parameters in unique ways, and this combination of performance and control provides a higher level of flexibility and value for the customer, to a degree that most currently available laser systems are unable to provide.
Multiwave also offers other innovative optical sources based on fiber-optic technologies, as well as product design, product development and engineering services aimed at developing and selling cost-effective and reliable products and solutions that resolve customer pains. Multiwave works closely with Customers to ensure complete satisfaction.
Espírito Santo Ventures is a venture capital firm of Banco Espírito Santo Group, focused on technology-based companies and innovative business projects with high-growth potential. Established in early 2000 as a venture capital holding, Espírito Santo Ventures has changed to a venture capital fund management company in 2005. The leverage of BES and Espírito Santo Ventures relationships, BES strong presence in the Portuguese corporate sector and the long-term international relationships of the Espírito Santo Group, as well as the access to the top Portuguese universities and research institutes projects, provide a quality deal-flow for the venture funds managed. Espírito Santo Ventures has invested € 70M, and currently manages an investment fund of € 90M.
Bullnet Capital is an independent Spanish venture capital firm focused on hi-tech companies in the IT sector. Established in 2002, it manages a first fund of 18M Euros, which is managed by Javier Ulecia and Miguel del Cañizo, having as main investors Bruno Entrecanales and the European Investment Fund. Bullnet Capital is currently raising a second fund of 30M Euros. To date, Bullnet Capital has invested in seven early stage companies. Bullnet Capital’s geographical focus is Spain and Portugal, and its investment philosophy is to add value and contribute to day-to-day running of portfolio companies.
GP Bullhound is Europe's leading research-centric technology investment bank, is based in London, UK, and is focused on providing advice on mergers & acquisition and institutional capital raising in the technology sector. The firm was established in 1999, and have completed over 60 M&A and Private Placement transactions in the technology sector since. With dedicated sector teams in Internet, Software and Semiconductors and with offices in London and San Francisco, GP Bullhound aim to provide the preeminent advisory service to entrepreneurs in Europe.
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